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CREA Revises Resale Housing Market Forecast

Financial Post - Banking • 2026-10-16

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The Canadian Real Estate Association (CREA) has revised its 2026 and 2027 housing market forecasts downwards, citing increased fixed mortgage rates and uncertainty around variable rates impacting sales activity. National home sales are projected to decline by 5.2% in 2026, with a modest 0.2% increase in the national average home price, followed by a 4.4% rise in sales and a 1.2% price increase in 2027. These adjustments reflect global energy crisis impacts on inflation and borrowing costs, alongside Bank of Canada rate hike expectations.

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